Karo Healthcare to acquire Perrigo’s
Dermacosmetics portfolio, strengthening its skin health brands and expanding
presence in Northern Europe and Poland.
Stockholm,
Sweden: Following the completion of KKR’s acquisition
of Karo Healthcare in August, Karo has confirmed the transfer of an agreement
to acquire a portfolio of skin health brands, including ACO. This transaction,
previously announced by a KKR-affiliated vehicle and Perrigo Company plc in
July 2025, remains unchanged and is expected to close in Q1 2026. Perrigo’s
Dermacosmetics business, which generated over EUR 120 million in net sales in
2024 across the Nordics, the Netherlands, and Poland, includes
well-established, science-backed skincare brands that complement Karo’s
existing portfolio.
The acquisition marks a significant
milestone in Karo’s growth strategy, reinforcing the company’s commitment to
expanding its brand portfolio and strengthening omnichannel market positions in
European consumer healthcare. It aligns with Karo’s ambition to provide
superior consumer solutions backed by healthcare professional endorsement and
scientific credibility.
Under the agreement, Karo will acquire a
business that includes the ACO portfolio (Cosmica, Canoderm, Cliniderm, and
Miniderm), as well as the Biodermal, Emolium, and Iwostin brands, each
recognized for strong brand heritage, high consumer trust, and solid scientific
foundations. The portfolio covers Face, Body, and Sun care products, along with
medicated skin health offerings.
In addition to the brands, the
transaction includes a dedicated organization with proven capabilities across
multiple areas, which will enhance Karo’s operating model and long-term
commitment to the skin health category. The deal also strengthens Karo’s presence
in its core Northern European markets and provides a strategic entry point into
Poland, a rapidly growing consumer health market.
“This will be a major transformational
step forward in our strategy of becoming a multi-channel European leader in
consumer healthcare. It brings a portfolio of attractive, science-backed, and
trusted skin health brands to Karo, which have strong consumer positions and
healthcare specialist endorsement in key markets. Following completion, we look
forward to welcoming talented employees to Karo, adding critical capabilities
that will support the continued strengthening and long-term development of our
company,” said Christoffer
Lorenzen, CEO of Karo.
Hans Arstad, Managing Director at KKR, added, “We
are confident Karo is the ideal strategic partner for Perrigo's Dermacosmetics
business and its portfolio of trusted skin health brands. The strong foundation
provided by Karo's leading Nordics consumer healthcare platform and KKR's deep
experience in successful corporate carveouts, will position these businesses,
brands and employees to thrive and deliver long-term success for partners and
consumers”,
According to TechSci
Research, the
acquisition of Perrigo’s Dermacosmetics portfolio by Karo Healthcare is poised
to bring significant benefits to the healthcare industry, particularly in the
consumer skin health segment. By integrating well-established, science-backed
brands such as ACO, Biodermal, Emolium, and Iwostin, Karo strengthens its
capacity to offer high-quality, clinically supported skincare solutions across
Face, Body, Sun care, and medicated categories. The enhanced portfolio ensures
that consumers have access to trusted products with proven efficacy, supported
by healthcare professional endorsements. Additionally, the deal brings in an
experienced organization with expertise in operations, marketing, and product
development, which will improve supply chain efficiency, innovation, and market
responsiveness. Expanding Karo’s footprint in Northern Europe and entering the
growing Polish market also facilitates broader access to these essential
consumer healthcare products, supporting public health initiatives and
promoting better skin health outcomes across key European markets.